Hong Kong Gold Industry Group (02623): Terminate the acquisition of 20% of Guixi Baojia's shares

According to the Zhitong Finance App, Hong Kong Gold Industry Group (02623) issued an announcement regarding (among others) the establishment of the Jiangxi Joint Enterprise Management Center (limited partnership) and the acquisition of 20% shares in Guixi Baojia Mining Co., Ltd., which is engaged in the mining and processing of non-ferrous metals such as silver, lead and zinc. As the limited partner of the partnership, the Group was notified by the partnership on November 2, 2026 that since the partnership company and Lanxiang Mining failed to agree on certain commercial terms of the Bao Family's acquisition, they were unable to conclude a formal share transfer agreement. After friendly negotiations, the parties mutually agreed to enter into a termination agreement on November 2, 2026 to terminate the intention agreement and the Bao Family's acquisition.

Since the main purpose of the partners establishing the partnership was to jointly invest in the Guixi Bao Family, the Group and the other partners of the partnership have mutually agreed to dissolve the partnership and reduced the total registered capital of the partnership to RMB 1 million (of which RMB 488,700, RMB 488,700, and RMB 22,600 were funded by Shenzhen Xinlong, Jiangxi Xintonghing and Beijing Century respectively) to cover the expected costs of dissolution.

The Board believes that the termination will not have any significant adverse impact on the Group's financial performance and operations. The Group will continue to use the proceeds from the share offering for investment and acquisition purposes to seek and explore other suitable acquisitions and/or investment opportunities to obtain strategic interests in companies engaged in or owning (including) high-quality mines and natural resources, thereby advancing its business diversification plans.